Wednesday, February 17, 2021

Money Goes to Money, As Always

  Revealed in new IPS briefing paper, the richest .01 percent of Americans, about 33,000 today, now pay just one-sixth of what they used to pay in tax, when measured as a percentage of their total wealth.

The top .01 percent in America is a phenomenally wealthy group. Even during America’s most egalitarian periods, the average member of the top .01 percent held over 200 times the wealth of the average American. Today, the wealth of the average top .01 percenter is nearly 1,000 times that of the average American and is closing in on one billion dollars.

Taxes on the Rich: One-Sixth of What They Used to Be – Consortiumnews

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